Housing Chill
Grows Worse,
Bites Consumers

By

Sudeep Reddy and

Michael Corkery

Updated Sept. 26, 2007 12:01 a.m. ET

The housing market is going into a deeper chill, and consumers are starting to shiver.

Sales of existing homes in August fell sharply, and home inventories by one measure soared to an 18-year high, according to data released yesterday. One major home builder, D.R. Horton Inc., is auctioning homes this weekend with starting prices for some units at 50% off an earlier price.